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pleased during the meeting to the cochair of our policy committee, congresswoman rosa delauro and congresswoman rob andrews. we have congressman johnson on your this well and the prevention tax force or violence. also mike thompson, thank you for your leadership. we are also joined by steny hoyer. with that, we will go to our cochairs. >> i think you very much, madam leader. chairman injuries, to everyone for scheduling this critical and very timely hearing. as the president indicated, there has been assigning of executive orders by the president and we all feel the urgency of responding to the dangers that are communities confront. with the distribution of guns and large capacity magazines and with the status of our mental health observations who ought not to have guns and make sure that we know who is getting weapons and bringing danger to our community. i appreciate the witnesses and i welcome them and it is obviously an extraordinarily timely hearing. the witnesses and the attendance in the media of the public. thank you for being here. thank you, madam leader. >> thank y
've written about this great deal, how dan has written about it, rosa has written about, simon johnson the great scholar, and others. that what is happening is the reason, one of the reasons we have not clicked as quickly as possible in recovering from the crisis is because the transmission mechanism for monetary policy is dumped out. think of it as sludge on the motor of age. it's very hard to get the pistons to move. we provide the fuel, central bank. it has to be transmitted into the economy. and when i don't have to and sent people to step on the accelerator, to create more jobs, that's a matter of having to write laws, right regulation, right tax incentives and so on. but it has to be transmitted through the banking system. and these banks that were in such deep trouble and controlled so much of the industry's assets have been focused on other things. so they are interfering with the effectiveness as i mentioned in my speech. if you can get people to understand that this is holding back and hurting job creation in our district, then i think you might have a little bit more politic
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